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Creating Connections to Empower Egyptian Youth CREATING NOUR EL DIN SHERIF PHOTO BY: CONNECTIONS TO EMPOWER EGYPTIAN YOUTH Sustainability Report 2019 A girl enrolled in one of the “In House Nurseries” in Edfu, providing young children with a holistic educational and social experience. As part of Tamkeen (“Empowerment”), our Integrated Village Development project covers a range of development interventions and assistance to ultra-poor families in five villages in the center of Edfu. PHOTO BY: NOUR EL DIN SHERIF PHOTO BY: DISCLAIMER The 2019 Sustainability Report is an outline of ALEXBANK’s Laila Hosny sustainable business and operations. While ALEXBANK has made Head of CSR & Sustainable Development Office Email: [email protected] every attempt to ensure that the information contained in Address: 49 Kasr El-Nile, Downtown – Cairo. Egypt this publication is accountable and accurate, all information and performance indicated in this publication is historical; and past performance is not an assurance of future results. All Amina Khalil Intellectual Property Rights associated with this publication are Head of Social Performance & Reporting Unit proprietary. Corporate and Registered Head Office*1 Address: 49 CSR & Sustainable Development Office Email: [email protected] Kasr El-Nile, Downtown – Cairo, Egypt. View “Creating Connections Address: 49 Kasr El-Nile, Downtown – Cairo. Egypt to Empower Egyptian Youth” online. To remain true to our values as ALEXBANK, we ask you to please consider the environment before printing this report. Copyright © 2019 by ALEXBANK 2 Sustainability Report 2019 3 At one of the “In House Nurseries” in Edfu, children use play dough to both enhance their social skills and develop their creativity. Table of Contents Letter to Stakeholders 6 6. Ensuring Sustainable Operations 110 7 6.1 Customer Protection & Satisfaction 114 1. About this Report 8 6.2 Supply Chain Management 120 1.1 Report Overview 10 1.2 Topic Materiality Boundary 12 7. Environmental Welfare 122 1.3 Stakeholder Engagement 14 7.1 Our Direct Environmental Impact 126 1.4 Celebrating Our Volunteers: The People 24 7.2 Our Indirect Environmental Impact 134 Creating Connections 7.3 Environmental Awareness 138 1.5 Behind the Lens – Our Photographers 26 8. Celebrating Diversity at ALEXBANK 140 2. About Us 28 8.1 Our Employees 142 2.1 Our Mission & Values 30 8.2 Training & Development 146 2.2 Our Strategic Goals 34 8.3 Our Internship Programs 155 2.3 Our Sustainable Development Framework 36 8.4 Our Internal Communication 155 2.4 Banking in The Age of Technology: Improving 38 the Accessibility of Our Branch Network 9. Creating Social Impact & Value 156 2.5 Going Digital & Our Cyber Security Protection 40 9.1 Our Flagship Initiative: “Ebda3 men Masr” 160 Measures 9.2 Health & Wellbeing 184 9.3 Child Development, Education & Youth Employability 188 3. Growth for Impact: Our Year in 52 9.4 Sustainable Finance 200 Review 3.1 Financial Highlights & Position 54 10. The People Shaping Our Connections 202 3.2 Our Market Share 64 3.3 Our Economic Value Distribution 66 11. Financial Inclusion & Purposeful Lending 292 3.4 Supporting SMEs: Fueling the Growth of the 68 11.1 Our Microloan Initiatives 296 Egyptian Economy 11.2 Responsible Finance: The Variable Interest Rate Program 298 3.5 Corporate & Investment Banking 80 11.3 Meeza Cards 300 11.4 Financial Awareness & Literacy 302 4. Good Governance 84 11.5 Egyptian University Students & The Banking Sector 304 4.1 Organizational Structure 88 11.6 Digital Financial Awareness 306 4.2 Our Board of Directors 90 4.2 Board Committees 94 12. Communicating Our Impact 308 4.4 Management Committees 96 13. Memberships 312 5. Risk Management for Sustainability 98 5.1 Rule-Based Automated SME Products 102 Annex 1: Audited Statement of Financial 316 5.2 Reputational Risk 104 Position 5.3 Operational Risk 106 Annex 2: GRI Content Index 320 PHOTO BY: NOUR EL DIN SHERIF PHOTO BY: 4 Sustainability Report 2019 5 Dante Campioni, Ziad Bahaa-ElDin, Managing Director & CEO Chairperson ALEXBANK HAS BEEN WORKING TOWARDS CONTRIBUTING TO EGYPT VISION 2030’S NATIONAL DEVELOPMENTAL GOALS. Letter to Stakeholders1 This year, we have the pleasure to present you with our Egypt is a vibrant country; rich in cultural heritage that manner by aligning with strategic business and sustainability evolving to meet increasingly complex community needs, sustainability roadmap and journey for the year 2019, reflects its glorious past. More importantly, Egypt’s greatest goals. We maintain the constant growth of our Small and without compromising the environment, and while fully through our third annual Sustainability Report. This asset lies in its young population: the drivers of energy, Medium Enterprise portfolio to support Egypt’s rising youth- affirming the tenets of responsible banking. As this report year’s report is centered around the theme of Creating talent and prosperity. Everywhere around us, we are led entrepreneurial ventures, we work towards increasing demonstrates, we remain dedicated to transparently Connections to Empower Youth, as it emphasizes the heartened by the efforts of young Egyptians to develop their financial inclusion and literacy, raise environmental communicating with our stakeholders in alignment with the various initiatives we have taken as a Bank, and as an communities through technology, arts and entrepreneurial awareness to place emphasis on effective resource GRI Standards and the United Nations Global Compact (UNGC) active agent of positive change in Egypt over the past endeavors. More than ever, young Egyptians have been management, empower women, provide a platform for Egypt’s frameworks. year. Our mandate and efforts stem from a commitment to working tirelessly towards assuring prosperity for all. At artisans, and enhance our digital platforms to communicate contributing to Egypt’s Vision 2030, while simultaneously ALEXBANK, we are committed to doing the best we can as a in the language of a generation at the cusp of a revolutionary Now back to the core of this report, Egyptian youth, who growing our customer base and providing new generations business, and as a corporate citizen, to support and fulfill technological change. as employees, partners and community members are of Egyptians with the necessary tools to gain financial the needs of a youthful population demanding the best constantly working towards realizing a more vibrant and awareness and security. Our success can be credited to from its institutions. Our decision to become a member of the United Nations prosperous future. In celebration of Egyptian youth, we are the sustainability priorities and continuous support of our Environment Programme - Finance Initiative (UNEP-FI) proud to be presenting this report in a laptop sleeve made parent company, Intesa Sanpaolo Group, which remains Year after year, our ability to create shared value is alongside our Parent Intesa Sanpaolo, stems from our by “Black Duck”, the brainchild of a rising Egyptian creative engaged and active in promoting governance that pursues enriched by innovative business practices and initiatives. commitment to ensure that our products and services are entrepreneur who turns plastic into art. sustainable value creation. We commit to establishing ourselves in a sustainable Dante Campioni, Ziad Bahaa-ElDin, Managing Director & CEO Chairperson 1 6 GRI 102-14 Sustainability Report 2019 GRI 102-14 7 1. ABOUT THIS REPORT2 The “In-House Nurseries” project provides a safe and nurturing place for the children of Edfu. NOUR EL DIN SHERIF PHOTO BY: 2 8 GRI 102-1, GRI 102-46 Sustainability Report 2019 9 1. ABOUT THIS REPORT 1.1 Report Overview3 Bank of Alexandria (“ALEXBANK”) is an Egyptian Joint Stock This report is prepared according to the GRI Standards. The Company (S.A.E) and subsidiary of Intesa Sanpaolo S.P.A., report’s content is based on information from interviews with performing under the provisions of the Central Bank of key stakeholders, internal reports and monitoring systems Egypt (CBE) and Monetary Law No. 88/2003. ALEXBANK was and ALEXBANK’s audited financial statements. This report has established in 1957, and Intesa Sanpaolo Group became its been prepared in accordance with the GRI Standards: Core main shareholder in 2007. option. We are proudly publishing our third annual sustainability Covering the fiscal year 2019 (from 1st of January to 31st of report to confirm and celebrate our commitment to ensuring December 2019), this report outlines ALEXBANK’s activities to the social and environmental welfare of our stakeholders, create shared value over the course of the year. Any efforts including but not limited to our employees, partners, clients described outside this period are indicated in the respective and the communities we operate in. We recognize our role sections. as a financial institution in establishing sound governance to operate transparently, sustainably and add value to Our second Sustainability Report with the title “Impact society. Aligned with Intesa Sanpaolo Group’s Business Plan Through Innovation: A New Phase of Sustainable Growth” was (2018-2021) and Egypt’s Vision 2030 developmental goals, we published on the 6th of June 2019 and covered the year 2018 have been committed to growing as a business, and serving (from 1st of January to the 31st of December 2018). It covers our community without compromising the wellbeing of the material topics we identified in 2018 as while shedding light environment. on new topics in 2019. THROUGHOUT THE REPORT, AND IN LINE WITH OUR DEDICATION TO RESPONSIBLE BANKING VALUES, WE REFLECT ON THE GROWING CONNECTIONS BETWEEN OUR THREE CORE COMMITMENTS: 01 Establishing clear guidelines to mitigate and reduce social and environmental risks. 02 Promoting the welfare of our employees through the introduction of social programs that extend to their families. 03 Creating a framework that can be tailored to evolve with the changing demands of our growing customer base. This year’s Sustainability Report also includes our plans our stakeholders of changes, achievements or challenges and aspirations for future developments based on the that occurred throughout 2019.
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